Nutraceuticals are actually “Bioactive herbal formulations” that contains selective combinations of specific bioactive constituents of plants and/or their parts that possess health-promotive, disease preventing and medicinal properties. The important phytochemical constituents commonly found in plants are polyphenols, flavonoids, isoflavonoids, anthocyanidins, carotenoids, fibers, limonoids, glucosinolates, phytoestrogens, phytosterols and terpenoids. They play positive pharmacological activities in human health such as antioxidant activity, anti-microbial activity, anti-inflammatory, anti-allergic, anti-spasmodic, chemo-preventive, hepato-protective, neuro-protective, hypolipidemic, hypotensive, anti-aging, diabetes, osteoporosis, repair DNA damage, heart diseases, diuretic, Central Nervous System (CNS) stimulant, immuno-modulator, carminative, Thus the present chapter summarizes the phyto-pharmaceutical applications of nutraceuticals and functional foods and would lay emphasis on its importance for future generations for their well-being.